On June 10, 20X8, Private Corporation acquired 60 percent of Secret Company's common stock. The fair value of the noncontrolling interest was $28,000 on that date. Summarized balance sheet data for the two companies immediately after the stock purchase are as follows: Item Cash Accounts Receivable Inventory Buildings & Equipment (net) Investment in Secret Company Total Accounts Payable Bonds Payable. Book Value $ 43,800 44,000 96,000 $ 19,000 Common Stock Retained Earnings Total Private Corp. Secret Company Book Value Fair Value $ 14,000 $ 14,000 19,000 29,000 129,000 57,000 19,000 34,000 77,000 42,000 $354,800 $ 119,000 $144,000 $ 2,000 2,000. 231,800 42,000 72,000 72,000 14,000 62,000 $354,800 31,000 $ 119,000 $ 74,000 Required: a. Record the consolidation entries required to prepare a consolidated balance sheet immediately after the purchase of Secret Company shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Entry A 1 Buildings and equipment Inventory Cash Accounts receivable Answer is not complete. Accounts Debit Credit 86,000